Recursion Pharmaceuticals (NASDAQ:RXRX) Stock Price Down 5.3% on Disappointing Earnings

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX - Get Free Report) was down 5.3% during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $7.07 and last traded at $7.11. Approximately 8,143,605 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 25,618,289 shares. The stock had previously closed at $7.51.

The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.17). The business had revenue of $4.60 million during the quarter, compared to the consensus estimate of $19.04 million. Recursion Pharmaceuticals had a negative net margin of 579.52% and a negative return on equity of 76.56%. Recursion Pharmaceuticals's revenue was down 57.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RXRX. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Recursion Pharmaceuticals in a report on Thursday, February 6th. KeyCorp lowered their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Cowen restated a "hold" rating on shares of Recursion Pharmaceuticals in a report on Friday, February 28th. Finally, Leerink Partners reduced their price objective on shares of Recursion Pharmaceuticals from $7.00 to $6.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.25.

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Hedge Funds Weigh In On Recursion Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in RXRX. Softbank Group CORP. bought a new position in shares of Recursion Pharmaceuticals during the 4th quarter valued at approximately $99,152,000. Novo Holdings A S purchased a new position in Recursion Pharmaceuticals in the fourth quarter valued at approximately $68,375,000. Vanguard Group Inc. lifted its stake in Recursion Pharmaceuticals by 40.1% in the fourth quarter. Vanguard Group Inc. now owns 34,009,994 shares of the company's stock valued at $229,908,000 after purchasing an additional 9,737,196 shares during the last quarter. ARK Investment Management LLC grew its holdings in Recursion Pharmaceuticals by 16.4% during the third quarter. ARK Investment Management LLC now owns 32,769,186 shares of the company's stock valued at $215,949,000 after purchasing an additional 4,626,268 shares during the period. Finally, State Street Corp increased its position in Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company's stock worth $84,815,000 after buying an additional 4,120,685 shares during the last quarter. Institutional investors own 89.06% of the company's stock.

Recursion Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 4.35 and a quick ratio of 4.35. The company has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $7.08. The stock has a market capitalization of $2.44 billion, a P/E ratio of -4.08 and a beta of 0.86.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.